How Did Gaddafi Bypass US Anti-Money Laundering Rules To Bank With Goldman And JPMorgan?

One of the most critical questions that has to be asked in light of yesterday's revelation that among the banks providing banking and asset amangement services for Libya were Goldman Sachs, JP Morgan and Citigroup, is just how did Libya get an exemption for anti-money laundering provisions both in Europe and the US. Oddly enough, this future mainstream debate arises not in the US, where any form of critical thinking appears to be immediately curbed by SEC Rule 201 (for all those calling for a hike in the SEC's budget, we suggest the following contrarian thought experiment: let's cut its budget to zero and see how long before anyone notices) , but out of the UK, where a reader writes in to the FT (oddly enough, partially owned by the Libyan Investment Authority) with the following very simple question: "It seems to me entirely implausible that Col Gaddafi could have earned
billions of dollars through legal means. And yet if the AML procedures,
to which we are all subjected, have not been applied rigorously to the
likes of Col Gaddafi and his family, one is forced to ask what purpose
they really serve." Or what purpose any regulation serves in general when fraud results in surging stock prices, and companies that adhere to the rules are promptly wiped out in this bizarro capitalist world.

Sir, I read with interest the news that the UK government is freezing billions of dollars in assets belonging to Muammer Gaddafi and his family. I would also be intrigued to know whether the banks and other financial institutions handling these assets have applied the same anti-money laundering (AML) procedures to these assets as are applied to every other “normal” banking client in the UK.

I am less interested in whether Col Gaddafi and his family were able to supply passport copies and utility bills but more interested in what evidence they were able to present as to the source of the funds.

It seems to me entirely implausible that Col Gaddafi could have earned billions of dollars through legal means. And yet if the AML procedures, to which we are all subjected, have not been applied rigorously to the likes of Col Gaddafi and his family, one is forced to ask what purpose they really serve.

Regulations are for the competitors of the too-bigs only. Why do you think they lobbied to give the Fed unlimited regulatory powers. Try to start a hedge fund and do what these JPM gets away with and you'll be locked up in no time.

Spot On. Regulation is nothing but a cunts game and anyone thinks legislation, regulation or any rules for that matter is anything but control leavers for The Parasite Club is too bloody naive for words

Martin Armstrong has also said New York is a racket, that the NY Fed and SEC have been shutting down out-of-town operations that provide too much (too good) competition to the NY/WS clique for decades

Regards banks and dodgy regimes how does any Western arms dealer repatriate monies through the Western banking system! Are their staff guilty of ill gotten gains when paid their wages?

Islamabad—The United States, Britain and France have sent several hundred “defence advisors” to train and support the anti-Gadhafi forces in oil-rich Eastern Libya where “rebels armed groups” have apparently taken over.

According to an exclusive report confirmed by a Libyan diplomat in the region “the three Western states have landed their “special forces troops in Cyrinacia and are now setting up their bases and training centres” to reinforce the rebel forces who are resisting pro-Qaddafi forces in several adjoining areas.

A Libyan official who requested not to be identified said that the U.S. and British military gurus were sent on February 23 and 24 night through American and French warships and small naval boats off Libyan ports of Benghazi and Tobruk.

9-10 days ago, these agents were "sent in", or so say sources from...uh,...Pakistan? these are not rumors! this is TRUE, b/c it has been CONFIRMED by a libyan diplomat who is in some "region" and (?) a libyan "official" also?

those seemingly successful "rebel armed troops" who have "apparently taken over" in E. libya, may be in for some snuff-film surpises, eh? plus, is it only slewie, or do others also see that James Coburn thingy going on with the mo-gadfly? if i'm even luke-warm w/ a lucky guess, here, bilary will look fabulous as she successfully negotiates the agents back to the safety of their interlocking mossad spy networks and international banksters who, it appears now, may be using nations as "agents". can this be t-r-u-e???

how freaking crazy have i gotten here, sports fanZ??? here's a woman so formidable, she admitted to being a texan:

Of course, everyone realizes that the reason the prime money laundering global banksters created the Wolfsberg Group, to develop all those AML (anti-money laundering regs for the UN, etc., Egmont Group, IMF, etc., etc.) was to control the global money laundering, not to alter or stop it in any way.

As we all know, almost all of those banks have before and since then paid penalties for money laundering, but nobody ever, ever goes to jail.

Call me old fashioned but why are they keeping all that loot in banks? Now if I was a power mad dictator, I got to think I would commission a massive vault to house my loot (aka gold) in an isolated area. Then have the builders killed, and then the killers killed, then maybe those killers killed for good measure. But I suppose maybe they have and it's the secret emergency stash. But this flying stuff out at the last minute and getting accounts frozen says to me these guys were not thinking long term. How unprofessional, I bet our oligarchs are way smarter :)

where does a king hide his loot? just start being naked, is my solution. you got to be comfortable just being nude. solution solved. plus, shameful (not me), if i had police or national guard pointing rifles @ me, i would ask them if i could take my clothes off before they killed me. i think that would be a great way to go. they shot her dead, naked.

tylers, guess what? you have gotten over 1500, fifteen hundred new twitting people following your twitter page. this is after i announced for everyone to become a follower of you guys on the tweeter. so are we going to brake/break 20,000 followers by weeks' end? i speculate, Y E S w e C A N. you are the real deal and the numbers show this. you will probably take over as number one choice for all things considered

Well, not really. All regulation is a barrier to entry created by the large industrial players. What's shocking is that people actually believe government is established to provide for the public good/interest. After all these recorded centuries...

Who is starting to get more and more bad press in the MSM? a) Goldman Sachs and other top banks b) The federal reserve c) The US regulators

Why would TPTB allow this campaign in the MSM to begin?

To show the world that: A) The US banks are responsible for the global mess that we're in B) The US is not capable of policing itself C) The US dollar should no longer be used as the world's reserve curency (all the seemingly unlikely people coming out lately saying that we should be on a gold standard) C) The Federal Reserve is ultimately responsible

Why would they sacrifice the Fed and the corrupt banks? A) To propose a world governed system B) To make the IMF in charge of US banking C) To usher in a new fractionally gold-backed currency

Who owns the IMF/BIS/Federal Reserve? - the Bank of England - which is owned by the Rothschild's who just happen to own most of the world's gold.

That's an interesting thought, but if the Rothschilds and other Bilderberg folk are already pulling the strings, why rearrange into a world government? That's a risk, but what's the reward? They're pillaging now, and it's working. What's broke, and why are they and their elite accomplices trying to fix it?

Fear. They are constantly worried about being discovered. (as they should be) I think they want to transition from stealth control to physical control. Just because they've bitten us (sheeple) on the neck and we're all paralyzed doesn't mean they don't want to wrap us up tight for snacking later. I'd like to finish with a thought: intuition is telling me that their plan will not work in the end. Yes, we'll have financial collapse but too many of us are waking up to their end goals.

Good people forget that our man Noriega in Panama was only deposed when he threaten to nationalize all those peculiar Panamanian banks - JPM, Citi, etc included.

Things get done in this world on a barter triangle of guns-gold-drugs. The "money" sitting in the bank is just icing on the power-cake - its the inducement to simply do something for someone because they are rich - not because you will be paid.

It will be fun to watch to see IF any MSM reporter ever follows this story.

Maybe after the blood is washed off the Tripoli sidewalks and Libya is split like Sudan.

After reading this article and the comments I reflected back on the ZH article about legal vs. moral and ethical. It's interesting, what's the difference between an armed robber holding up a bank for cash and a really smart group of rich dudes ripping off the system for billions/trillions? They are both thieves. What's the difference between a street walking prostitute and a goldigger,who is not in love, marrying a sugardaddy for his money? They're both whores. The difference in both cases is the first example is breaking the law! What's truly amazing is that the ones who are breaking the law are at least HONEST about what they are doing! Food for thought!

gaddafi was exempted from aml because he is a client puppet of the cia-banking-military-industrial complex....pull your fucking heads out of your butts people....it wasn't snafu - it was plan and policy to exempt allies from onerous burdens....as long as gadaffi kept the oil flowing his crimes were ignored...

laws are for the little people....the same suppression of laws occurred when the cia-sponsored al-qaeda planned its attacks on the wtc.....al-qaeda = cia....maybe that's why gadaffi is up in arms about al-qaeda....

Perhaps the family members of the Lockerbie victims can file lawsuits against the firms and CEO's of firms who seem to have violated AML laws by handling Libya's and Qadhafi's money (Lloyd Blankfein, Jamie Dimon). There is precedent. The victims of the Mumbai LeT massacre a few years ago have filed a lawsuit against General Pasha, the head of Pakistan's ISI, who has been accused of aiding Lashkar e Taiba. (As a sidenote, the USG has tabled an offer to grant Pasha Diplomatic Immunity if Pakistan grants the same to Davis.)